U.S. stocks close mostly lower with tech; dollar up after factory data


U.S. stocks ended mostly lower on Friday, weighed down by technology and consumer discretionary shares, while the dollar edged higher after stronger-than-expected U.S. manufacturing data.

U.S. Treasury yields slipped as the market mostly shrugged off the data.

Data firm IHS Markit said its flash U.S. manufacturing PMI increased to 61.5 in the first half of this month. That was the highest reading since October 2009, and followed a final reading of 60.5 in April. Economists polled by Reuters had forecast the index dipping to 60.2 in early May. read more

Rising U.S. inflationary risks have spooked markets, and minutes on Wednesday from the last Federal Reserve meeting suggested some policymakers were ready to talk about reducing stimulus by tapering bond purchases. read more

On Friday, Philadelphia Fed Bank President Patrick Harker said Fed officials should start talking about the best way to reduce their asset purchases “sooner rather than later.”


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